Homeowner’s Insurance

Homeowners Insurance | Hall Insurance Services | Champagin ILHome Owner’s Insurance

Life is unpredictable to say the least. You never know what’s going to happen. From meteorites crashing in Russia knocking out windows and causing other structural damage to homes to airplanes crashing into homes in Indiana and cars trying to turn houses into drive throughs in Coastal Mississippi, the unexpected happens all the time. Is your home covered when it does?

Why Buy Home Insurance?

Your home is the single largest investment you’re likely to make in one lifetime. Insurance is one method you have at your disposal to protect that investment from harm resulting from theft, vandalism, wind, rain, ice, snow, fire, smoke, explosions, and more. HO-3 insurance, the most common type of homeowner’s insurance, also offers some degree of protection against liability if someone is injured either on your property or by your property (for instance, in the event that a tree limb from your tree falls onto your neighbor’s car — or your neighbor).

There are certain things that are not covered by typical home insurance policies. These things include:

• War/Acts of terror
• Flood
• Earthquakes/Earth movement
• Intentional damage
• Neglect
• Nuclear accidents

People living in areas where these are likely, or even possible, should consider rider policies that provide coverage to specific items on the list. If you live in an area susceptible to this type of damage, your mortgage lender may require to you to carry a rider policy to protect their interests in the property.

Named Peril Policies

Some people wonder whether or not an HO-2 policy, one that covers named perils only, is a wise choice. It comes up quite often by people who are looking for ways to cut costs and save money on their monthly expenses. It’s rarely wise to cut corners on insurance, especially if you still owe the bank money on your home. A “named peril” policy is one in which the policy only covers specific perils that are named on the policy, such as lightning, fire, or hail. Other perils may be named. The more perils included in the coverage, the higher the costs.

Don’t forget about depreciation when purchasing insurance. Actual cash value insurance may seem like a better bargain when buying your policy, but if you ever need to make a claim on the policy you’ll quickly learn that replacement costs endorsements are worth their weight in gold. Take a little time now to understand what the insurance you buy actually covers and always make apples to apples comparisons (down to the dollars, cents, deductibles, depreciation, and exclusions) when comparing policies. Cheaper policies are not always equal.

Our goal is to ensure that your coverage meets your needs at the best possible price. Hall Insurance Services provides Auto, Home, Life, Business, Taxi | Livery and Workers’ Compensation

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Call today for a free quote 217-352-8833 or email us at ryanhall@hallinsure.com


Hall Insurance Services | 711 South Neil St. - Champaign, IL 61820